From left to right: Good Life X Alchemist for Growth Arj Wignaraja, Good Life X Founder and CEO Randhula de Silva, Dilmah CEO Dilhan C. Fernando and Amrit J. Fernando
- Helping SMEs and entrepreneurs in the agricultural sector to innovate and evolve in a sustainable way
The post-pandemic health, economic and social challenges have caused everyone to rethink the current way of doing business. With increasing risks for supply chains to be impacted by disruptions, building resilience is increasingly important today. Sustainability and technology have a key role to play here. In fact, shifting to environmentally friendly value chains has been shown to generate higher financial gains while creating positive societal impact.
Dilmah Tea has partnered with Good Life X to launch the Lost Ingredients Lab: a platform for Sri Lanka’s organic and regenerative agriculture and food sectors to integrate their value chains through innovation and collaboration.
The Lost Ingredients Lab is an initiative of the “Support for Small and Medium Enterprises in the Organic Agriculture Sector” program of the Multi-Donor Action (MDA) jointly co-funded by the European Union (EU) and the German Federal Ministry of Economic Cooperation and Development (BMZ), implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
The program aims to create investment opportunities in the domestic agri-food sector, highlighting the growing importance of digitalizing the domestic organic food sector and helping Sri Lanka’s organic food producers access new markets, especially in the EU.
In addition to bringing key indigenous ingredients to international markets, the project will engage SMEs and entrepreneurs in the process of innovation and sustainable growth. Participants will follow an eight-month program, in which the first phase focuses on research and development and the second phase focuses on product development. This initiative could not come at a better time as Sri Lankan businesses are faced with the need to adapt to unprecedented economic hardship.
Key local ingredients have high nutritional value, health benefits and unique properties of particular interest to international markets. SMEs and entrepreneurs working directly and indirectly with these ingredients will have the opportunity to explore new markets and technologies and disrupt existing business models.